Indian rupee gained in the early trade on January 4. It opened 18 paise higher at 72.94 per dollar against Friday's close of 73.12 per dollar.
On January 1, rupee ended at day's low at 73.12 per dollar against Thursday's close of 73.07.
At 10:05 hrs IST, the Sensex is up 222.14 points or 0.46% at 48091.12, and the Nifty up 75.90 points or 0.54% at 14094.40.
The USDINR pair remained largely range bound and closed near its two-month low on the back of broader weakness in the dollar and continuous inflow from FIIs. We feel the pair is likely to move towards 73 levels in coming days, said ICICIdirect.
The dollar-rupee January contract on the NSE was at Rs 73.29 in the last session. The open interest in the January series remained flat, it added.